On 20-Feb-2018 from NiravModi’s top executive handling finances of celebrity designer Vipul Ambani and some other officials were arrested by CBI in the case of PNB fraud that is one of the biggest cases of fraud in India. the Punjab National Bank Rs 11,400 crore fraud case.
Vipul joined Nirav Modi firm 2 or 3 years ago said by Vipul Ambani arrest was done after CBI investigation with some arrested officials of PNB bank including an Executive Director, and 18 employees of Nirav Modi and Gitanjali group of firms.
Also Read – Jewellery and car stolen from house
Vipul Ambani, president (finance) of Firestar International, Kavita Mankikar,authorised signatory of Firestar, Kapil Khandelwal, achief financial officer of Nakshatra and Gitanjali group, Arjun Patil, a senior executive in Firestar and Niten Shahi, a manager in Gitanjali group were all arrested 20-Feb-2018 after several times of inquisitorial.
Vipul is the son of Dhirubhai Ambani’s youngest brother Natubhai Ambani.
On 14-Feb-2018 stock exchanges got informed by PNB (Panjab national bank) that it has been by fraud amounting to Rs 11,300 crore at one of its branches in Mumbai.
Then a case was filed against Nirav Modi a diamond merchant and his relatives along with others and raided over dozen locations through the country connected to them on 15-Feb-2018.